There are a lot of positives for gold and silver bullion, this in turn encouraging yet more buying of intrinsic-value coins. The dollar’s value on the world market has been one of these for some time, but as the manufacturing sector begins to show signs of slowing, the precious metals spot prices appears to be rising modestly.
Former U.S. Mint Director Ed Moy recently told Kitco News, “A number of states, the current number is 12 of them, are trying to figure out how to operationalize Article 1, Section 10 [of the US Constitution], to allow their citizens to buy and sell things in gold and silver.”
In other words, these states want to allow specie as well as fiat money to circulate. This in turn will fuel even more demand for generally available generic precious metal content coins as well as bullion issues.
Coin clubs are re-awakening as fear of the pandemic eases domestically. Coin shows are likewise cautiously re-opening. The rare coin market continues to make headlines in the general press, this being a good thing for the hobby. One major auction house recently reported their auction sales in the first quarter being 16 percent higher than for the same period one year earlier. Even more interesting is that 80 percent of all bidding was made online.
Collectors are interested in non-precious metal coins as well. Quality copper issues continue to sell at strong prices, although the interest in 2-, 3- and 5-cent coins is not as keen. The health of the coin market continues to grade A.